UAE daily stock market reports for Abu Dhabi Securities Market (ADSM) and Dubai Financial Market (DFM) - RSS feed

Thursday, October 23, 2008

UAE markets 23 Oct 2008

UAE market news & discussions for 23 October 2008

The Abu Dhabi stock exchange fell 2% on turnover of less than half a billion dhs, while the Dubai exchange rose 1.5% on turnover of three-quarters of a billion dhs, most of the gains coming late in the trading session after the index fell over 3% earlier in the day. Have Emaar started buying back their shares? The 3 day wait ended yesterday after results were released on Sunday afternoon, but the Dubai Financial Market (DFM) website showed no record of Emaar buying shares today (only a couple of Union Properties (UPP) insider trades). Islamic Arab Insurance (IAIC) Salama received a renewal of their approval to buyback shares. No Q3 results seen so far today, although based on previous release dates and/or BOD meetings announced, results for Aldar Properties (ALDAR) andOman Insurance (OIC) might be available later today. The Dubai CEO Exchange was quiet today with no further management arrests, as far as we know. Kuwait traders walked off the Kuwait Stock Exchange floor this morning and protested outside, in a novel way to try and boost the market. It didn't work, the KSE closed 3% down. Asian stocks plummeted today, European stocks fell, but Wall Street futures are indicating US stocks will open higher this evening.

Dubai International Financial Exchange

DP World shares have plummeted 15.9% to $0.37 so far today, Depa shares are not far behind with an 11% fall to $0.40, and there's been a single trade in Kingdom Hotel Investments at $4.85, down 3%.

Dubai Financial Market

Emaar Properties (EMAAR) was the only stock trading more than AED 100m in Dubai today, and rose 4.5% to 6.00. Top gainers included Dar Takaful Insurance (DARTAKAFUL) on thin trading, Ajman Islamic Bank (AJMANBANK), Arabtec (ARTC), and Emarat Takaful Insurance (TAKAFUL-EM), all rising about 5%. Islamic Arab Insurance (IAIC) was up 4.4%, Union Properties (UPP) 3.8% and the remaining gainers up less than 3%, inlcuding most of the actively traded stocks. Emirates NBD (ENBD) was unchanged at 6.59 today after results released yesterday afternoon, ending a succession of limit down days, but turnover was light. Shuaa Capital (SHUAA) fell 3.25% on thin turnover, and Dubai Islamic Bank (DIB) and Dubai Investment Company (DIC) fell less than 1%. The other 5 losers fell on insiginificant turnover.

Abu Dhabi Securities Market

Aldar Properties (ALDAR) saw the most turnover in Abu Dhabi today, and fell 5.7% to 5.65. First Gulf Bank (FGB) made a rare appearance in number two spot on turnover with a 1.4% rise to 15.00. Two other banks made similar gains, Abu Dhabi Islamic Bank (ADIB) and Bank of Sharjah (BOS). There were no other gainers rising more than 1% on turnover of more than AED 1 million. Sharjah Insurance (SICO), Qatar Telecom (QTEL), and Union National Bank (UNB) all had losses of more than 7% on turnover of more than AED 1m, Waha Capital (OILC) and Sorouh Real Estate (SOROUH) were down more than 6%, National Bank of Abu Dhabi (NBAD) 5.6%, and the remaining actively traded stocks fell less than 5%. Emirates Telecom (ETISALAT) was down just 1.6% to 15.95.

Dubai Financial Market and Abu Dhabi Securities Market index for 23 October 2008

UAE stock market news and discussions at Dubai Share Talk ...

best stock rises
symbol price change
OEIHC 2.98 +0.27 +10%
DARTAKAFUL 2.74 +0.14 +5.4%
AJMANBANK 2.08 +0.10 +5.1%
ARTC 7.35 +0.35 +5%
TAKAFUL-EM 2.52 +0.12 +5%
worst stock falls
symbol price change
RAKCEC 2.57 -0.28 -9.8%
GRAND 1.40 -0.15 -9.7%
SICO 4.97 -0.50 -9.1%
QTEL 121.60 -11.80 -8.8%
UNB 5.56 -0.44 -7.3%
top volume
symbol value (AED) price
EMAAR348,544,6516.00
ALDAR157,328,8275.61
ARTC77,284,4007.35
DFM70,953,8452.64
FGB68,551,69814.95

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